On June 12, Financial institution of China’s funding banking subsidiary, BOCI, introduced Issuance of 200 million ($28 million) price of digitally structured banknotes minted on the blockchain. The transfer makes BOCI the primary Chinese language monetary establishment to concern tokenized securities in Hong Kong. Funding banking agency UBS helped develop this product to serve purchasers within the Asia Pacific area. BOCI Deputy CEO Wang Ying commented:
Concurrent with this improvement, UBS has expanded tokenization throughout structured merchandise, fastened revenue and repo finance. In December 2022, the corporate issued a $50 million tokenized fixed-rate bond digitized on a licensed blockchain underneath UK and Swiss regulation.
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